Platinum Investment Management Ltd. Has $1.28 Million Stock Position in Autodesk, Inc. (NASDAQ:ADSK)

Platinum Investment Management Ltd. lifted its stake in Autodesk, Inc. (NASDAQ:ADSK) by 153.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,336 shares of the software company’s stock after acquiring an additional 2,628 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Autodesk were worth $1,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of Autodesk in the fourth quarter valued at about $25,000. Tradewinds Capital Management LLC increased its position in shares of Autodesk by 100.0% in the fourth quarter. Tradewinds Capital Management LLC now owns 100 shares of the software company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Addison Advisors LLC increased its position in shares of Autodesk by 157.4% in the fourth quarter. Addison Advisors LLC now owns 121 shares of the software company’s stock valued at $36,000 after acquiring an additional 74 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Autodesk in the fourth quarter valued at about $37,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Autodesk in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Trading Down 0.3 %

Shares of ADSK stock opened at $259.95 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.76. The stock has a market cap of $55.37 billion, a P/E ratio of 51.58, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The stock has a 50 day simple moving average of $287.48 and a 200 day simple moving average of $287.83. Autodesk, Inc. has a 1 year low of $195.32 and a 1 year high of $326.62.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ADSK. UBS Group boosted their price target on Autodesk from $350.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Macquarie reissued an “outperform” rating and set a $360.00 price target on shares of Autodesk in a research report on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and set a $325.00 price target on shares of Autodesk in a research report on Tuesday, February 25th. Barclays boosted their price target on Autodesk from $355.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. Finally, Oppenheimer boosted their price target on Autodesk from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Autodesk presently has an average rating of “Moderate Buy” and a consensus target price of $336.29.

Autodesk Company Profile

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.